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City of College Park Department of Planning, Community, and Economic Development 4500 Knox Road College Park, MD 20740 Phone: (240) 4873543 Fax: (301) 8870558RETAIL BUSINESS & EXPANSION FUND APPLICATION

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How to fill out retail business amp expansion

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Begin by conducting market research to identify potential target markets and assess their needs and demands.

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Develop a comprehensive business plan that includes goals, strategies, and financial projections.

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Secure funding for the expansion, either through loans, investments, or self-financing.

04

Find suitable locations for new retail outlets or consider expanding online through an e-commerce platform.

05

Obtain any necessary permits or licenses required for operating a retail business, such as zoning or sales tax permits.

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Hire and train additional staff members to support the expansion and ensure excellent customer service.

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Stock inventory and merchandise based on market demand and customer preferences.

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Implement effective marketing and advertising strategies to promote the expanded retail business.

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Monitor and evaluate the performance of the expansion regularly, making adjustments as needed.

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Maintain strong relationships with suppliers, customers, and other stakeholders to sustain long-term success.

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Existing retail businesses that want to grow and tap into new or underserved markets.

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Entrepreneurs looking to enter the retail industry and establish a successful business.

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Companies experiencing high demand for their products or services and need to expand their operations to meet market needs.

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Retailers who have identified a niche market or unique product that can be capitalized on with an expansion.

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